University ratings drop

Posted:
Tuesday, March 19, 2013 6:50 PM EDT

Charleston – A new release shows that ratings at Eastern Illinois University have dropped.

The State Treasurer Dan Rutherford says Moody's Investor's Service has downgraded the ratings of multiple Illinois Universities, Eastern Illinois University being one of them. This comes after Moody's placed them under review, because of dependence on state funds.

Rutherford says this means it will cost some universities more to borrow money.

Ratings at Governors State, Northeastern, and Northern Illinois University have also dropped.